June 27, 2017 / 5:39 AM / a year ago

Russia's Rosneft to open trading office in Singapore - paper

MOSCOW, June 27 (Reuters) - Russia’s Rosneft, the world’s top listed oil producer by volumes, plans to open a trading office in Singapore, Chief Executive Igor Sechin said in an article published in Izvestia newspaper on Tuesday.

He added that if oil prices stay at $40 per barrel for a prolonged time, half of global oil production would become loss-making, including in Brazil and Canada, with shale oil producers also likely facing “difficulties”. (Reporting by Vladimir Soldatkin, writing by Katya Golubkova; Editing by Himani Sarkar)

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